Bank of New York Mellon Corp boosted its holdings in Global Blood Therapeutics Inc (NASDAQ:GBT) by 6.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 236,471 shares of the company’s stock after purchasing an additional 15,211 shares during the quarter. Bank of New York Mellon Corp’s holdings in Global Blood Therapeutics were worth $10,689,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Franklin Resources Inc. purchased a new position in shares of Global Blood Therapeutics during the first quarter worth about $30,023,000. BNP Paribas Arbitrage SA grew its holdings in shares of Global Blood Therapeutics by 1,718.0% during the first quarter. BNP Paribas Arbitrage SA now owns 139,951 shares of the company’s stock worth $6,760,000 after purchasing an additional 132,253 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Global Blood Therapeutics by 195.0% during the first quarter. Royal Bank of Canada now owns 175,113 shares of the company’s stock worth $8,458,000 after purchasing an additional 115,746 shares during the last quarter. UBS Group AG grew its holdings in shares of Global Blood Therapeutics by 262.3% during the first quarter. UBS Group AG now owns 136,394 shares of the company’s stock worth $6,588,000 after purchasing an additional 98,751 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Global Blood Therapeutics by 935.8% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 72,300 shares of the company’s stock worth $3,268,000 after purchasing an additional 65,320 shares during the last quarter. 98.79% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GBT opened at $40.40 on Tuesday. Global Blood Therapeutics Inc has a fifty-two week low of $27.55 and a fifty-two week high of $68.05. The stock has a market cap of $2.07 billion, a PE ratio of -14.24 and a beta of 4.26.

Global Blood Therapeutics (NASDAQ:GBT) last announced its earnings results on Thursday, August 2nd. The company reported ($0.78) earnings per share for the quarter, topping the consensus estimate of ($0.87) by $0.09. During the same quarter last year, the company posted ($0.55) EPS. research analysts expect that Global Blood Therapeutics Inc will post -3.38 EPS for the current fiscal year.

Several equities analysts have issued reports on the company. HC Wainwright set a $125.00 price objective on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Thursday, August 23rd. Zacks Investment Research lowered Global Blood Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. Cantor Fitzgerald set a $96.00 price objective on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Thursday, August 23rd. BidaskClub raised Global Blood Therapeutics from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $73.00 price objective on shares of Global Blood Therapeutics in a report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $80.53.

In related news, insider Lesley Ann Calhoun sold 3,295 shares of the firm’s stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $44.19, for a total value of $145,606.05. Following the completion of the sale, the insider now owns 1,388 shares in the company, valued at $61,335.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Deval L. Patrick sold 42,379 shares of the firm’s stock in a transaction dated Friday, July 6th. The shares were sold at an average price of $43.40, for a total transaction of $1,839,248.60. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $651,000. The disclosure for this sale can be found here. Insiders have sold 48,678 shares of company stock valued at $2,128,844 in the last quarter. Insiders own 4.40% of the company’s stock.

About Global Blood Therapeutics

Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. It is developing its lead product candidate, voxelotor, an oral, once-daily therapy for sickle cell disease (SCD). The company is evaluating voxelotor in SCD in a Phase III clinical trial in adult and adolescent patients with SCD.

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Institutional Ownership by Quarter for Global Blood Therapeutics (NASDAQ:GBT)

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